Government Ownership Of GM Winds Down As GM Announces Buy-Back Of $5.5 Billion Of Its Shares

GM is making more progress in its attempts to regain footing after its collapse during the 2008 crisis. It announced on Tuesday, December 18 , that it would buy back $5.5 billion worth of its stock from the government.

That equates to 200 million shares at $27.50 per share. The buyback will be completed by the end of 2012.